Best Buy wants to get in on the tablet madness that’s sweeping the globe, and it will deploy its own in-house device dubbed the “Insignia Flex” to make a marking on the hotly contested tablet market.

The Insignia Flex will be a 9.7-inch Android-powered tablet that will go for between $239 and $259. As for the specifics regarding the Insignia Flex, Best Buy has not spilt the beans on the tablet’s specification. One can only speculate that if Best Buy wants to legitimately contend with the likes of Apple, Amazon, and Google, that it will have to deliver a device that’s not half-baked.

The rumored price of the Insignia Flex is right around what many would consider a bargain or a budget device. Among the budget Android tablet makers, the key players are Amazon’s Kindle, Google’s Nexus 7, and Barnes & Noble’s Nook.

(Best Buy will have to compete with devices such as the Nexus 7 which features a quad-core Tegra 3 CPU)

Google’s Nexus 7 currently sets the standard for what is considered a “budget” Android tablet. The lowest priced Nexus 7 model features a quad-core Tegra 3 processor and 8GB of internal storage. Best Buy’s Insignia Flex will feature a 1GHz dual-core processor, Android Ice Cream Sandwich to boot, and an expected battery life of 10 hours.

Apple is rumored to launch its own budget tablet soon—the iPad mini, and this means that Best Buy will have to deal with a lot more competition. The Cupertino-based tech giant currently controls the majority of the tablet market share, and the launch of an “affordable” iPad means that it may also strengthen its hold on the growing tablet market.

Various sources are reporting that the Insignia Flex may hit the shelves of local Best Buys as early as November 11.